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Equities

Angus Energy Raises GBP3 Million via Share Placing, Subscription

Angus Energy (ANGS.L) issued 1.5 billion new ordinary shares at 0.002 pound sterling apiece through placing and subscription offers, raising overall proceeds of 3 million pounds.The oil and gas company said Wednesday it raised 1.8 million pounds from placing 880 million shares, and the remainder from subscription agreements with Kemexon, Aleph Commodities, two senior executives, and other subscribers.The net proceeds will be used for drilling and upgrade activities at the company's Saltfleetby onshore gas field and Brockham oil field in the UK, as well as to support its restructuring strategy.

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Equities

Angus Energy Enters Conditional Restructuring Agreements

Angus Energy (ANGS.L) signed conditional agreements with creditor groups Trafigura, Forum Energy Services, and royalty holders for its plan to restructure its debt.The oil and gas company said Wednesday the settlement of the amount owed to royalty holders will eliminate a major potential liability. It added that Forum Energy Services approved the conversion of deferred consideration into equity, while Trafigura agreed to combine and extend its financing facilities at a lower cost.The restructuring is subject to shareholders' approval and the completion of a 3 million-pound-sterling fundraising.

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Equities

Angus Energy Expects to Complete Restructuring in Coming Weeks

Angus Energy (ANGS.L) expects its restructuring process to be completed in the coming weeks despite slower-than-expected progress.The restructuring is expected to boost the oil and gas company's balance sheet and liquidity, according to a Thursday filing.The company's shares remain suspended from trading on London's alternative investment market, with trading expected to resume after the restructuring is completed.

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